UK-based supermarket chain Tesco has announced the closure of seven of its 13 Jack’s discount stores, while the other six remaining outlets will become Tesco stores. Tesco opened Jack’s store in 2018 with the promise to be “the cheapest in town” to win back shoppers from German discount stores Aldi and Lidl. According to sources, Tesco will try to find alternative roles for the 130 employees affected by the move. …
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Supermarket chain Tesco Ireland has announced the acquisition of ten Joyce’s supermarkets based in Galway for an undisclosed sum. The acquisition is the first significant investment made by Tesco since it entered the Irish market in 1997 and it is part of its strategy to grow its store’s footprint bringing quality and value to more customers. The stores will be rebranded as Tesco stores throughout 2022 and they will sell …
British retailer Tesco and French retailer Carrefour have announced that their purchasing alliance will not be extended. The global purchasing alliance was announced on July 2018, formed to cut down costs and secure better deals with major suppliers. Operational for three years, the alliance enabled the retailers to access new opportunities, suppliers, and new products. The retailers released a joint statement that said that “moving forward, both companies have agreed …
British retailer Tesco has announced the sale of its business in Poland to Danish retailer Salling Group, for PLN 900 million (£181 million). This sale follows Tesco’s strategy of withdrawal some of its global positions, similar to the sale of its business in Thailand and Malaysia in March, to focus on its strongest markets. According to sources, the transaction will include the sale of 301 stores, as well as the …
Tesco, the UK-based multinational supermarket chain, has announced its intention to sell its business in Malaysia and Thailand to a conglomerate of Charoen Pokphand Group entities, in a deal valued at $10.6 billion. According to sources, the decision has been taken to simplify the Tesco group, enabling a stronger focus on its retail business in the UK, Ireland and Central Europe where the supermarket chain has over 4,500 outlets ranging …
UK-based retailer Tesco has announced the launch of Jack’s, a new store concept that promises to offer customers great tasting food at the lowest possible prices. According to a press release, the launch is part of Tesco’s centenary celebrations and the stores are named after the company’s founder Jack Cohen. Besides offering low prices, Jack’s stores will feature well-known as well as own brands, a range of merchandise on a “when …
European supermarket heavyweights Tesco and Carrefour have announced plans to form a strategic alliance covering global supplier relationships, the joint purchasing of own brand products and goods not for resale. Anticipated to be formally agreed within the next two months, the partnership will be governed by a three-year operational framework. In a statement, the retailers said the alliance would enable both companies to enhance their competitiveness by improving the quality and choice …
Tesco, the UK’s leading grocery retailer, is considering the creation of a new ‘discount’ store chain to counteract the threat of Aldi and Lidl, according to an article in the Sunday Times. The Guardian reports that the new discount stores would seek to match the German discount supermarkets on price, while carrying only 3,000 lines, compared to 25,000 lines in a typical Tesco Extra hypermarket. The newspaper also reports that a second option …
UK retailer Tesco has announced the launch of a new range of plant-based meals under the name Wicked Kitchen. The supermarket said it had partnered with chef Derek Sarno to develop a line aligned to growing demand for vegetarian and vegan food, by celebrating “everything that’s ‘wicked’ and tasty about plants”. Tesco said that the proportion of UK consumers following a plant-based diet had grown and was set to increase …
UK retailer Tesco has announced the launch of a new range of ecologically-certified household products under the label Tesco Eco Active. According to a press release from the retailer, the launch responds to consumer demand for more environmentally-friendly products, which is at an all-time high in the UK. Tesco’s household goods product developer Sanjeev Kaushal said: “Customers tells us that they want to buy eco-cleaning products but they must be …
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